Eleftheria Paizanou
A total of 223 properties of the former Co-operation had been granted by the end of December 2021 to local authorities and government agencies.
According to data from the Ministry of Finance, of the 223 properties that have been granted to date, 33 were given to Municipalities, 176 to Community Councils and 14 for housing government services. In total, the Republic acquired 454 real estate titles (a real estate can consist of more than one title), the value of which according to the estimate of KEDIPES / Altamıra amounts to € 135.5 million. The process for the acquisition of real estate has not been finalized, since The assessment of the value of all the properties by the Department of Land Registry is in progress, as well as the building evaluation of the buildings that will house government services by the Department of Public Works.
From the analysis of the data of the Ministry of Finance, out of the total number of properties, 268 are located in the Province of Nicosia, 133 in Limassol, 53 in Larnaca, 80 in Paphos and 23 in Famagusta. The majority of properties are shops and two-storey buildings. Among others, these are 47 fields, 21 ground floor buildings, 20 parking spaces, 50 two-storey buildings, two five-storey, one six-storey building, one four-storey building, one room, number of supermarkets, 24 warehouses, 47 stores, 30 Cooperative branches, plots, listed building, gas station, commander's museum, power station, winery with plots, apartments, houses, machine shop, carpentry, etc.
The Minister of Finance Konstantinos Petridis, responding to a letter sent by the General Secretary of AKEL Stefanos Stefanou, states that the ministry, in cooperation with KEDIPES, is proceeding with the granting of the use by the local authorities and state services of the vacant buildings that have been selected, the completion of the transfer of the buildings to the Republic. As he points out, the process of granting the vacant buildings to the Local Government Authorities has already started from January 2020 on the basis of a relevant document signed between the Local Government Authority and ALTAMIRA.
Buy another 12
In addition, another 12 properties with a total value of € 43.1 million have been purchased by Hellenic Bank. According to information provided by the minister, this is a property on Dimostheni Severis Street in the Municipality of Nicosia, which was sold for € 11.3 million, for a property on Leontiou Avenue in Limassol, which was sold at a price of € 3.2 million, a building in Spyros Kyprianou Avenue in Mesa Geitonia, worth € 2.7 million and a power station in Agios Dometios, which was sold at a price of € 5.3 million.
Also, it concerns a property in Lakatameia, which was sold for € 857,500, a property in Griva Digeni in Larnaca, worth € 3.6 million, a property in Agia Fylaxeos in Limassol, worth € 995 thousand and properties in Giannou Kranidioti Avenue in Latsia, which have In addition, Hellenic Bank acquired a property on Kalymnou Street in Larnaca at a price of € 1.6 million, a property in the Municipality of Strovolos at a price of € 1 million, another property in Strovolos and specifically on Athalassa Avenue at a price of € 4.3 million. € 3.9 million and a property in Griva Digeni in Paphos at a price of € 3.9 million.
He also rents 31 properties
In addition to the real estate market, Hellenic Bank rents 31 properties from KEDIPES, with a total monthly rent of € 156,595. Monthly rents range from € 420 to € 56,735. It should be noted that the lowest rent is paid for the housing of the bank in Kato Pyrgos and the highest will start to be paid during the development of the building on Gladstonos Street in Limassol.
